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Nearly 8000 Mining Rigs to be Imported

The Ho Chi Minh City (HMC) Customs Department has revealed the number of mining rigs that are on the list to be imported during the first three weeks of January.

The deputy director of the customs department, nguyen Thanh Tuyen, told the HMC Law Department on January 24 that between 23 and January 1, a total of 7,932 mining rigs are currently waiting to become customs-cleared, Tuoi Tre reported.  He added that the complete value of these rigs is”almost $12.3 million…[and] the amount of tax paid to the [city’s] budget is almost 28 billion dong [~$1.23 million].”  Tianphong elaborated:

Currently, the price of mining rigs that are bitcoin is high, from 70 to 80 million [VND]; some areas even [sell them for] around 100 million [VND] each machine.

The publication noted that most mining rigs are imported from China, including that they cost roughly 20-25 million dong each but were sold dong each in early 2016.  By mid-2017,”the price of mining rigs increased to VND 45-60 million per machine and at present, even though the price of bitcoin diminished, the purchase price of mining rigs still increased to VND 80-90 million per machine,” the publication added.

News and bitcoin gambling and casino games.Bitcoin. Com recently reported that a total of 7,005 known mining rigs were imported in 2017. The majority of them, 5,527 rigs, were imported between November and December 21.  Only 1,478 rigs were announced entering the country between January 1 and October 31 of last year, according to the HMC Customs Department.

No Regulations Nevertheless

Tuyen explained that mining rig imports and mining operations in the city are”still normal since there are no regulations for the import of such goods,” Tianphong quoted him. Presently,”the State Bank has verified that bitcoin and other similar virtual currencies are not legal way of payment in Vietnam” and residents using them as such”will be fined 150-200 million [VND], and can be subject to criminal prosecution from January 1, 2018,” the publication emphasized.

Nguyen Hoang Minh, deputy director of the State Bank’s HMC branch, was quoted saying:

Virtual currency generally, and bitcoin and litecoin particularly, aren’t currencies and are not way of payment.

What do you think of the Vietnamese mining sector growing so fast?  Let us know in the comments section below.

Pictures courtesy of Shutterstock.

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Source: bitcoincasinoreview.info

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